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Money’s tight. Economy sucks. What to do? Missouri’s got it figured out.
Cash-strapped legislators have recommended spending cuts for Missouri schools and shelters for battered women, but so far the yachting class can enjoy another season of clear sailing.
Thanks to a longstanding tax exemption, Missouri’s marina set can opt to pay a small fee in lieu of sales taxes and shave as much as $30,000 off the purchase of a $500,000 boat.
That tax exemption alone is depriving state and local coffers of more than $6 million a year, according to some estimates. It’s just one of more than 130 untaxed transactions that are getting renewed attention in Jefferson City because of the state’s continuing budget crisis.
Just further proof of Republican’s total disregard for anyone but the rich. What a screwed up, conscienceless party of scum.
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(Hat Tip: Balloon Juice)
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